Here are 5 well-known facts that newcomers to the world of cryptocurrencies should know about Ethereum.
1. This is not an unexpected success
According to CoinMarketCap, at the beginning of 2016, Ethereum became the second-largest cryptocurrency, having managed to push to the background such previously leading altcoins as LTC and XRP. This growth is explained by the fact that the cryptocurrency environment attracted new investments, having at its disposal about $ 7 billion in the first quarter of 2017 alone. During this period, the price of Ethereum increased by more than 500%. If we consider a broader period of time, the results of this cryptocurrency seem even more impressive – since the launch in 2015, its value has increased by 2,800%.
2. The volume of trading operations varied greatly
During the existence of Ethereum, the volume of trade operations with this currency quite often underwent significant changes. Sometimes it was very modest – within $ 100,000 per day, and at other times the activity increased several times.
3. Search interest has grown significantly
As it turned out, search interest has a significant impact on the price of cryptocurrency, since most potential investors first look for the price of it in search engines. According to Google Trends, interest in broadcasting has grown significantly over the past two years, although along with ups, its periodic drops have been observed.
4. Almost all the largest cryptocurrency exchanges trade Ethereum
Several large exchanges began to offer Ethereum to their customers in the first months. Nnow it is traded on almost all major cryptocurrency exchanges. For example, Poloniex added an ETH / BTC cryptocurrency pair in trading back in August 2015. Kraken, Bitfinex, Coinbase and Gemini also soon followed. Most of them also added the ability to trade ethers for dollars and other fiat currencies. Other companies offer their customers over-the-counter (OTC) trading with this cryptocurrency. Genesis Trading, for example, added the OTC option at the beginning of 2106, and the Octagon Strategy in March 2017.
5. In Ethereum, you can create your own assets
The Ethereum platform allows developers to create their own assets on top of the main blockchain. Over the past years, the number of coin sales for Ethereum-based projects has grown significantly and continues to increase. There is every reason to believe that interest in such projects will not fade away, but rather will only grow with time. In particular, Ethereum is the first cryptocurrency in which direct investments were made by such large technology companies as Microsoft, IBM and other members of the Enterprise Ethereum Alliance.